11:59 AM EDT, 08/08/2024 (MT Newswires) -- ATS (ATS.TO) reported Thursday lower adjusted earnings and revenue for the first quarter of its fiscal 2025.

The automation-solutions provider booked adjusted earnings from operations, excluding most one-time items, of $86.2 million, or $0.50 per share, in the quarter ended June 30, down from $102.1 million, or $0.69, in the year-prior period.

Revenue fell 7.9% to $694.3 million while adjusted EBITDA sank 11% to $106.0 million.

"Today ATS reported our first quarter results for fiscal 2025, which included the second highest order bookings and the largest life sciences order backlog in company history," chief executive Andrew Hider said. "Strengthened by organic and acquisition growth within life sciences, our order backlog provides good revenue visibility throughout fiscal 2025."

For its outlook, ATS said the life sciences funnel remains strong, with a focus on strategic submarkets of pharmaceuticals, radiopharmaceuticals, and medical devices.

The company noted that its order backlog of $1.88 billion is expected to help mitigate some of the impact of quarterly variability in order bookings on revenues in the short term.

ATS shares were last seen up $2.56 to $40.06 on the Toronto Stock Exchange

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